What are Afterpay and ZipPay?
Afterpay and ZipPay let you defer payment of your order and pay it back in instalments - a real "buy now, pay later" solution. Your order will be sent to you immediately, and the repayment is super easy to manage.
All you need to do is sign up for an account - you can do so with Afterpay as well as ZipPay and use whichever is offered by the store you are shopping at! There are no length process or wait times - each service uses your mobile phone number and some personal details to instantly create your account. You will need to be over the age of 18 to be eligible for both
Both cater for an order total of up to $1000.
What is the difference?
To be eligible for Afterpay, all you need is a valid credit card or debit card and the initial deposit
Afterpay allows your total order value to be paid back in four equal instalments. You are automatically charged fortnightly on your credit or debit card. All you need to do is choose Afterpay as your payment option when you want to purchase products.
However with Afterpay, the first 25% payment is payable up front at the time of order as a deposit, and no interest is incurred on the remaining so long as payments are made within the fortnightly period.
With Afterpay, you can log in to your Afterpay account, view your orders and manage your account and payments at any time
If you are late on payment, Afterpay charges a $10 fee, though they send numerous reminder emails to make sure you have sufficient cash on your card to meet the payment.
Afterpay's only restriction is that it you need to have a much more rigid structure to the payback period - in fortnightly instalments. Compared to ZipPay, which allows a flexible payment schedule, from weekly to monthly, this option is less preferred for people with varying weekly income or who just want more time to pay back the balance.
ZipPay requires more than just a valid credit or debit card. They only accept debit cards and you must be employed and earning at least $300 per week.
ZipPay works by choosing it as a payment method at checkout. ZipPay will then pay for the order to the merchant on your behalf. It then allows you to pay back the purchase over any time period of your choice - interest free! You can pay over time as weekly, fornightly or monthly.
The benefit of ZipPay over Afterpay here is that the first instalment is not payable up front - there is no deposit required.
ZipPay doesn't have "late fees" persay, but they will charge a $5 monthly fee for having any outstanding amount owing on your account after the first month.
Now that you have seen the comparison of Afterpay and ZipPay - you can make your choice on what suits you best. We offer both forms of payment on all products on the website, including laces, cleaners, paint, protectors and dubraes. Grab your items for no up-front cost today!